Specialist · Victor, NY · Member since 2013 · 823 posts · 844 votes
13y
I agree with A DUNS # is imprortant to get. Also agree that paying DUNS for anything beyond that is not necessary. Once you have the number pick 2-3 suppliers that report to DUNS. I believe home depot credit accounts (where you pay in full every month) qualify as do similiar accounts at staples and officemax. Purchase something from them each month on the account and then pay in FULL IMMEDIATELY upon receiving the bill. After 6-9 months approach a local credit union and get a small ($500) credit account using only the DUNS number, no SSN or personal guarantee. You may need to deposit $500 into a savings account with them initially and as your relationship grows so too will your credit and limit. Hope that helps!
Investor · Cranford, NJ · Member since 2012 · 303 posts · 153 votes
13y
When getting a DUNS # they ask for a corrispoinding SIC code number, and I can not find any that have anything do do with real estate investing that are actually shown on DnB site. What have others used when registering to get their DUNS #
Specialist · Victor, NY · Member since 2013 · 823 posts · 844 votes
13y
I agree with A DUNS # is imprortant to get. Also agree that paying DUNS for anything beyond that is not necessary. Once you have the number pick 2-3 suppliers that report to DUNS. I believe home depot credit accounts (where you pay in full every month) qualify as do similiar accounts at staples and officemax. Purchase something from them each month on the account and then pay in FULL IMMEDIATELY upon receiving the bill. After 6-9 months approach a local credit union and get a small ($500) credit account using only the DUNS number, no SSN or personal guarantee. You may need to deposit $500 into a savings account with them initially and as your relationship grows so too will your credit and limit. Hope that helps!
Investor · Newtown, PA · Member since 2014 · 32 posts · 11 votes
12y
I was talking with a rep from DUNS today and they were trying to sell me the upgraded package for $599! Didn't buy it but thought let me check BP. I'll get the number (free option) and then do what @Michael Wagner suggests. Thanks for sharing your knowledge!
Investor · Milford, CT · Member since 2012 · 592 posts · 285 votes
12y
I set it up initially as well but they keep calling every 3-4 months trying to upsell. Not sure yet if DNB actually helps yet. Mines only been reqistered for a couple years.
Rental Property Investor · Glendale, AZ · Member since 2014 · 38 posts · 17 votes
10y
thanks BP. I am trying to get a DUNS number but the girl on the phone wants me to pay $1399. I told her no and now she offers up a $800 package for a limited time. Will take everyone's advice and just get a DUNS number without paying any extra. Thanks!
Pasadena, CA · Member since 2016 · 8 posts · 8 votes
10y
I just got off of the phone with D&B in order to establish my DUNS number. There was some advice but then there was about 35 minutes of confusing, hard sales pitches for their service packages. One was close to $1000, one was over $1500. I'm just going to try working with vendors/suppliers that report to DUNS...taking the advice of @Michael Wagner.
Chicago, IL · Member since 2016 · 36 posts · 8 votes
10y
I have a Duns number and also use a code for hotels and motels. You have to start out with accounts like Uline and Grainger. They report to dandb right away.
Investor · Boulder, CO · Member since 2016 · 19 posts · 23 votes
10y
I have personally never found having a DUNS number useful . My previous company I owned we did several million a year in revenues and profits had agencies reporting to DUNS and over 5 years history. The DUNS played no effect in getting loans or financing, banks want to see your p&l. Get reviewed or audited financials yearly, this is much more valuable. DUNS is just a big marketing scheme to get your money.
Austin, TX · Member since 2016 · 3 posts · 6 votes
10y
CRE Lender here. I've never used D&B or any of the other similar services to evaluate a credit request. Every shop has their own requirements and process and I'm sure a few do, but for CRE lending I don't find it helpful at all. Instead, I focus of the economics and market of the collateral for a given request. C&I lenders may be more apt to use this type of credit report, but I don't run into many CRE lenders that do.
3 years later... but exactly what I was looking for. DnB called me today, and gave me a free DnB #. Then offered me an premium package for $850+. I was hesitant to take it. Asked if I could think it over.
3 years later... but exactly what I was looking for. DnB called me today, and gave me a free DnB #. Then offered me an premium package for $850+. I was hesitant to take it. Asked if I could think it over.
Thanks to all the above. I've been in business 15+ years and finally have checked my Duns. I forgot that I had called in and created a D&B/ Duns # about 10 years ago. I'm just not sure if it has helped or not.
I've done commercial loans up to $1.1m and have a few in the high 800k and 900k for commercial properties. I don't recall any banks or credit unions asking for my DUNS number. The only time I've had to provide a DUN Number was when I applied for state and local grants for improving my commercial properties and I highly doubt paying those $1000-$1500 Duns an Bradstreet monitoring services would help in the slightest.
I don't use Home depot commercial accounts but I suppose I could open one if it will help my DUN D&B score. I have Capital One Spark business credit cards which I believe report to D&B. Does anyone know if Chase Ink Business cards report to D&B/ DUN
3 years later... but exactly what I was looking for. DnB called me today, and gave me a free DnB #. Then offered me an premium package for $850+. I was hesitant to take it. Asked if I could think it over.
Thanks to all the above. I've been in business 15+ years and finally have checked my Duns. I forgot that I had called in and created a D&B/ Duns # about 10 years ago. I'm just not sure if it has helped or not.
I've done commercial loans up to $1.1m and have a few in the high 800k and 900k for commercial properties. I don't recall any banks or credit unions asking for my DUNS number. The only time I've had to provide a DUN Number was when I applied for state and local grants for improving my commercial properties and I highly doubt paying those $1000-$1500 Duns an Bradstreet monitoring services would help in the slightest.
I don't use Home depot commercial accounts but I suppose I could open one if it will help my DUN D&B score. I have Capital One Spark business credit cards which I believe report to D&B. Does anyone know if Chase Ink Business cards report to D&B/ DUN
Will
Did creating those accounts help duns score? Worth the hassle or nah?